A US consortium is close to agreeing a $60 million takeover of English Championship football team Nottingham Forest from current owner, Fawaz Al-Hasawi, according to UK media reports.
The Telegraph newspaper reports that the US consortium is led by John Jay Moores, the former owner of Major League Baseball franchise San Diego Padres, and is in “advanced talks” with Kuwaiti owner Al-Hasawi, who will reportedly agree an 80-20 percent split and remain as chairman.
The Al-Hasawi family bought the club in 2012 and have endured a troublesome time during their four years as owners. Al-Hasawi has been in talks with Moores for the last three months, according to the newspaper.
More recently, Al-Hasawi has been dealing with issues closer to home, after he was named as the new head of Kuwait’s troubled football association. Al-Hasawi took over shortly after Kuwaiti authorities seized the organisation’s premises following accusations of financial irregularities.
Following suspensions by the International Olympic Committee and football world governing body FIFA, Kuwait was banned from the Rio Olympics, and cannot take part in qualifying for the 2018 World Cup.
Source: Arabian Business